Derbyshire entrepreneur Michael Ellis who co-founded piling specialist Van Elle is stepping down as chairman as he retires at the end of the year.
The Nottinghamshire piling contractor floated on the Stock Market two months ago raising £40m.
Ellis and other co-founder and chief executive Jonathan Fenton were among the shareholders trimming their stakes through the float of junior AIM stock market.
Adrian Barden, the group’s senior independent director, will take over as acting non-executive chairman.
Barden said: “Michael Ellis founded Van Elle 32 years ago and has played an instrumental role in establishing the group as the UK’s leading geotechnical contractor.
“The board is grateful for Michael’s guidance and support in achieving the recent successful initial public offering and wishes him well in his retirement.”
from Construction Enquirer http://www.constructionenquirer.com/2016/12/26/van-elle-founder-michael-ellis-retires/
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